BMS announced to acquire Forbius, targets to strengthen oncology and fibrosis portfolio
Bristol Myers Squibb has announced that it has entered an agreement to acquire Forbius. Forbius is a clinical-stage biopharmaceutical company involved in developing therapeutics for cancer and fibrotic diseases.
Forbius developed TGF-beta 1 & 3 inhibitors, key mediators that are involved in immunosuppression and fibrosis. Non-TGF inhibitors will be transferred to a new private company, which will be retained by Forbius’ existing shareholders.
BMS has agreed to pay upfront and more payments based on the milestones. BMS anticipated to complete the deal by financial year end of 2020.
As per the agreement, BMS will retain AVID200, lead compound of Forbius. BMS is planning to develop AVID200 for oncological disorders and further plans to develop the drug for other therapy areas including fibrosis.
TGF-beta is a cytokine involved in various cell processes which includes immune system regulation and are key mediators of tumor microenvironment (TME). Inhibition of TGF-beta 1 & 3 is believe to promote anti-tumor efficacy by acting syngergistically with immunotherapy.
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